Grexit or economic reforms?

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The Greek industry association SEB on Wednesday demanded that the government enact necessary economic reforms or else the country could be forced out of the European Union in a so-called Grexit.

First and foremost tax fraud had to be reduced, the SEB stressed in its evaluation of the Greek economy for the start of 2017 in a report entitled “Wonderful Year or Horrible Year.”

Greece has been dependent on international credit since 2010. In 2015, the government went to international lenders again for an 86-billion-euro bailout in return for wide-ranging reforms.

Greece now sits on a 315-billion-euro mountain of debt, equivalent to 180 per cent of gross domestic product.

Many blame the country’s economic woes on a decision to ditch the drachma and adopt the euro.

A current opinion poll shows that 58 per cent of people think that it was a mistake to adopt the euro, with just 38 per cent thinking it was a good idea.

The representative poll by the Alco Institute is due to be published in Thursday’s edition of the Greek magazine Zero.